Quote from: iCEBREAKER on July 01, 2015, 06:37:20 PM

On Sunday, Adam reminded everyone why he is basically Bitcoin's CTO. The best bit:

Quote

Gavin: "Lightning Network is nothing but a whitepaper"

Adam: "maybe you want to check in on

https://github.com/ElementsProject/lightning

and help code it."

Working from Rusty's summary and the abstract at the top of duplex micropayment paper, I presume that lighting networks are all about offloading many consecutive small transactions between a specific spender and recipient by lumping them into one Bitcoin transaction. This is an unpublished concept I also invented last year for handling real-time micropayments between a specific spender and recipient.

As I have stated more than once upthread[1], this is not a general model of micropayments. It means I can only send micropayments to an entity which I am willing tie up some of my funds with over a period of time which encompasses many transactions I will do with that entity. So thus this encourages centralization, because it will require recipients aggregate other recipients and payout those other recipients offchain (e.g. Coinbase -> Coinbase payouts).

Recently I discovered (what I believe to be) how to do general micropayments on a block chain and scale the block chain. So this entirely eliminates the need for Lighting networks (except perhaps in a very real-time scenario wherein the benign latency of my design would be a factor).

So sorry to say, those who are putting all this effort into Lighting Networks ~~are probably wasting their time~~may see their effort applicable to Bitcoin which is I guess worthwhile while ~~They~~Bitcoin may ~~soon~~eventually be superceded (subsumed) by a superior paradigm.

So iCe, who is really the CTO of crypto? Who is insane again? Come on, hammer some more nails into your coffin please.

[1]

Quote from: TPTB_need_war on June 25, 2015, 07:19:25 PM

...If I am not mistaken, the LN paradigm is only for setting up reused payment channels between a spender and a recipient, so it is inapplicable to a myriad of micropayments between all N possible participants in the system, because each setup has to go on the block chain. Thus it really isn't a general solution for micropayments, but rather a very specific solution for REAL TIME payments. I invented LN in 2014 also, and my application for it remains REAL TIME payments.

Side chains don't help you with micropayments unless you accept that micropayments will be done centralized on a special centralized SC. In other words, the decentralization of the consensus network design has to be accomplished no matter if you put it on a SC or in Bitcoin Core...

P.S. I don't believe any one megalomaniac can be the total CTO of crypto (and I am not asserting Adam nominated himself). This is a collaborative effort and we build on the shoulders of each other. I do believe leaders can be instrumental in that process.